Hoist Finance completes largest portfolio investment ever in acquisition of non-performing mortgage portfolio in France
Hoist Finance has acquired a French non-performing mortgage portfolio with more than 3.500 claims and an outstanding balance of approximately EUR 375 million. This is the largest portfolio investment ever for Hoist Finance. The seller is one of the major banks in France and in Europe and a key partner to Hoist Finance.
- This is the first time a non-performing mortgage portfolio of this size is sold in France. This clearly positions Hoist Finance as a leader within this segment in a very promising market, says Fabien Klecha, Country Manager France and Chief Sales Officer.
- This transaction, being a milestone in one of our prioritised markets, demonstrates our dedication to continued growth, and diversification into new asset classes. The positive market trends seen throughout 2019 continued in the fourth quarter, and I am happy to be able to confirm our full-year investment level approaching SEK 6 billion, says Klaus-Anders Nysteen, CEO of Hoist Finance.
This information is information that Hoist Finance AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication by Andreas Lindblom at 05:15 P.M. CET on 16 December 2019.
For further information, please contact:
Andreas Lindblom, Head of Investor Relations
Telephone: +46 (0) 72 506 14 22
About Hoist Finance
Hoist Finance is a trusted debt resolution partner to individuals, companies and banks in eleven European countries. With over 1600 dedicated colleagues, smart digital solutions and a deep understanding of individual financial circumstances, we help over six million customers keep their commitments. This is achieved by agreeing on sustainable repayment plans so that everyone is included within the financial ecosystem. Hoist Finance has a diverse portfolio of asset classes and our online savings platform in Sweden and Germany enables our unique funding model. Hoist Finance was founded in 1994 and is today a public company listed on Nasdaq Stockholm. For more information, please visit hoistfinance.com.